If You Won $5million On Powerball - Name 5-10 Things You Would Do With The Money???

[pursefattener]

I agree with Y man .The trouble is 5mil is really not big enough....But 100mil , well !

I like the sound of a swanky industrial property or a premium cattle property .

Would like to take a few weeks off and go on a hunting trip to NZ and the Top end . Shoot a twelve point red stag and catch a 200lb captain cooker . Now your talking.....

Time that's not spent 'huntin' is time a wastin and all that..

Once i got back home I would get all my huntin trophys mounted and put up in the living room where my wife can help me out with the layout etc .......

 

[see_change]

I see if I could get Diane Warren to give me songwriting lessons , but I don't know if she'd be interested. She's worth about 1/2 billion .

Cliff

 

[grossreal]

hi big col
here is what I would do.
I would throw it into a term deposit with the bank of china under the name of a new an unlisted trust.
and term deposit for 2 years.
I would then get the bank of china to equity lend into china on a 5 star 300 room hotel
build cost 20 mil with a buy out by an american chain and would do a jv with a chinese construction company as a 50/50 share holder.
the hotel gets built and the chain gives a 8% of price
the hotel is valued at 30 mil but the build was 10 mil so theres 20 mil in profit and mine is 10 mil.
now its 2 years later and this unlisted trust has an asset worth 10 and the deposit opens in bank of china sydney
under asic if an unlisted has more then 5mil in asset cash or property for more the 12 months it can list.
so I do a 5 to 1 list
25mil shares on the back of 10 mil asset not a bad list.
plus as its a china investment listed trust its flavour of the month so the share price climbs.
I sell 10mil of shares and hold control.
I have 15mil in my account now and 15mil of shares.
I take the 15 mil cash and do what
you guess it
I do 3 x 5 mil unlisted trusts with term deposits in the bank of china.
I get 5% interest so that 750k to keep me going.
big col
youre's is a dream of winning the 5 mil on lotto
mine is not.
the above is reality.
some people dream some people plan
I don't play lotto but if the above works I win.
my .002

 

[geoffw]

1. Stop work
2. Buy a home in Melbourne
3. Put the remaining money in an ING account

Not into Navrainvest?

 

[Glebe]

Warren Buffett was genius enough to make himself the second richest man in the world through clever investing, but in the end he has just written a cheque as his lame effort to do something useful with it!

Carol,

That's a very silly thing to say. What's so lame about donating $US30 billion to the Bill and Melinda Gates Foundation?

I think you should understand the guy a bit better...

http://video.google.com/videoplay?docid=515260011274566220

 

[nomadic]

1. Stop work
2. Buy a home in Melbourne
3. Put the remaining money in an ING account
4. Use interest for living
Mark

Maybe you should see a financial planner and get some better advice?

If i won a decent amount like $50m+, i'd be paying off all the debts, helping out my family and friends and favourite charities etc etc.... then buying a shed load of land and setting up an animal rescue / conservation area. Then i would build some orphanages in India.

 

[jopie]

Maybe you should see a financial planner and get some better advice?

HAHA! Awesome Joke!

 

[Mr. Fabulous]

Not into Navrainvest?

I thought about that, actually. Thing is, I would use about a mill to buy a home in Melbourne and some bits and pieces and travel. The other 4 mill, I stick it in ING (through a tax effective structure of course) and it earns me, say, $200,000 a year. That's far more than I would ever need to live on in a year.

It's a stable, (virtually) guaranteed income that I can just 'set and forget' which gives me much more than I would need, meaning I can help people and also put some back to cover inflation. So that's what I'm happy with.

I know it's not 'sexy' but if it provides more than I need, so it's enough. For me it's about the stability more than anything else.

Mark

 

[Altitude]

Is it just me? or are the content of the original threads started by BigCol deleted once the replies start to flow in?

I must admit I am a bit slow in catching up with most threads, and by the time I caught up, most of BigCol originated threads have the original content deleted. (Makes it hard for me to follow)

 

[Xenia]

To be "dreaming" about what you would do could mean that you think that it is not achievable.

If you truly believe that $5 million is not alot of money and just another achievable sum, then you can devise a plan to achieve it easily.

Then work on the billion

I like the attitudes of Alexlee and Dazz, they are well on their way!

 

[MarkB]

may I suggest focusing more on how to making a crapload of money using more conventional (and likely) means?

Agreed, however it is possible that BC was just looking for a polite way to ask advice for what if his fragile rich uncle/aunt with no next-of-kin dropped off the perch and left him $5m.

Some people do have large inheritances headed their way - even if it isn't the polite thing to talk about.

But for others, like me, it works in reverse. I'm in the process of arranging $500k of life insurance on my own life to pay out to my parents in the event that I die in the next few years.

M

 

[Carol]

Thanks Glebe

I hadn't seen that vidio clip before.

I still reckon the guy is being painfully unimaginative! He'd probably defend himself by saying he's staying within his area of competence: he knows how to make money but he isn't an expert on how to turn it into good, so he's decided to hand over his cheque to someone who does seem to be doing it well.

Gates is Buffett's friend and bridge buddy so maybe buffett will be a little more hands-on in where his $30b ends up than we realise.

obviously the bigger heroes in this story are melinda and bill gates - lots of people can write a cheque but not everyone can turn a mountain of money into good.

We say 'let's give it to the experts - let's give it to the red cross or the cancer council - but i wonder if that is the best way for each individual to do their bit of good - - but it certainly is the easiest way.

It's all a bit like "I have just won $5m in Lotto - i will go see a financial planner and get him/her to invest for me because they are the experts"

here's a scary thought: our australian style of government is based on the charity model in a sense. All of us have to hand over some of our earnings to the charity managers who then decided how best to distribute the contributions for best good of our australian society.

Someone told me once that someone calculated that only 9c in every tax dollar actually turns into something real at the end of the bureaucratic process and even then we're not sure whether the things we get are the things we need.

Buffett is such a smart guy - and wise too - I think it is a waste he doesn't input more than a cheque into the very difficult process of making a difference.

But i agree - a $30b cheque to the bill and melinda gates foundations is better than leaving it to his children or whatever. He is just an incredibly one-dimensional guy in my opinion.


Carol

 

[Mrs Bird]

Heres my 2 bucks worth,

I would not tell my family I won 5 mil as I know it would change my relationship with them forever. Jealousy and envy would be the main factor here. Same goes for friends...I love my friends dearly therefore would never burden them with the knowledge of the win. I would tell both sets of parents and would buy them any thing their hearts desired for the rest of their lives. Both parents have always supported us emotionally and financially when needed, It would be the greatest pleasure to return the favour 10 fold.

I would buy my Dad a GOOD racehorse instead of the nags he loves to buy and my In Laws, I would renovate their home to a palace they have always dreamed about.

I would pay off all our properties and then spend approx 2.5 mil buying blue chip realestate...old houses, large blocks in Essendon, Niddrie, Williamstown and just sit on it while getting plans to develop the properties.

1 mil I would put in some sort of bank account and use that to live from day to day.

My last task would be is to buy a large building with land to run my charity from and I would tap into government funding to help my project.
It would be a hospice/respite holiday home for servely disabled adults and children who are cared for by there parents. I would offer ,for example ,a beautiful ,loving environment where parents feel secure in the knowledge that their child is cared for while they go on a holiday for a few weeks or so. It could even be just for a few days repite for the parents. I would supply the home and land but I would need funding else where for ongoing costs...I would have to figure out the final details when I set up the charity. There is a real need for this type of respite centre.

I reckon the 5 mil is spent by now

Mrs Bird

 

[handyandy]

Firstly purchase an absolute toy in the form of a high rise unit large size like 400m2, with an absolute harbor view.

Regear the unit to provide $4mil. Use 2mil plus a margin of 2 mil into an income fund to provide a 7% net return (280k).

Use the other $2mil as a deposit on property to the value of 7-10mil depending on the type of property. This may be only one or two properties as I don't want further paperwork . It would need to be neutral.

Thus at the end we would have a capital value in the vicinity of $19mil and a debt of $14mil.

The net cash flow before tax should be $280k or $380k if I did some sort executive rental on the unit.

These investment would take some time as obviously you need to find the right ones rather than rushing into them. In the meantime I would deposit the money in an income fund until the right assets became available.

Cheers

 

[Glebe]

But for others, like me, it works in reverse. I'm in the process of arranging $500k of life insurance on my own life to pay out to my parents in the event that I die in the next few years.

M

Mark,

Are life insurance providers a dime a' dozen? I'm going to be researching life insurers soon and would appreciate your recommendation...

Cheers.

 

[The Y-man]

Mark,

Are life insurance providers a dime a' dozen? I'm going to be researching life insurers soon and would appreciate your recommendation...

Cheers.

Slightly off topic but: get you insurance BEFORE you go to hospital for ANY reason whatsoever

Cheers,

The Y-man

 

[Glebe]

Yeah this is long term planning for wife/parents. Cheers.

 

[Mr. Fabulous]

Mark,

Are life insurance providers a dime a' dozen? I'm going to be researching life insurers soon and would appreciate your recommendation...

Cheers.

Hi Glebe,

NigelW gave me the contact details for an insurance broker in Sydney a while back, the details of whom I don't have on hand at the moment, might pay to PM him and ask for them.

Mark

 

[Glebe]

Thanks Mark, will do.

 

[Watermelon Man]

Start a foundation to build accommodation for the homeless, start a soup kitchen, provide help to RSPCA.

Geez it's funny/strange after reading all of the posts that except for a few people, most other forumites would ultimately just spend the money on themselves & someone even said $5m wasn't enough to win at one time.

Far out! Don't people think of others less fortunate than themselves!!